Standard New York Set To Expand In S.A. Rand Forwards And Options
BANKS
Standard New York, the broker/dealer arm of Standard Bank of South Africa, plans to start trading South African rand options and establish a formal forward book in the next few weeks, say officials. The subsidiary, which started up a year ago, recently hired Carsten Hils as its new FX and money market business development manager and has plans to extend its market reach, building on its position as the only major market-maker in New York for the rand.
Standard already has grown considerably in
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